Luxury Condo Sales in Scottsdale and Phoenix – April 2015 –
The Phoenix and Scottsdale luxury condo market posted another excellent sales month in April. Not only were sales strong, there is also quite a bit in the pipeline with respect to pending sales.
This report will cover sales activity for condominiums with list prices in excess of $1 million.
ACTIVE LISTINGS AT THE END OF APRIL
Inventory jumped back up again by the end of April to 47 versus the previous month’s 41 units. Twenty-two of the listed units were in Scottsdale and remaining twenty-five were in Phoenix.
The most expensive unit on the market was listed for $3,500,000. This is a unique unit as it is the entire top floor of a commercial building in Downtown Scottsdale. It has about 8,500 square feet and is gutted for the new owner to customize.
The least expensive unit, with a list price of $1,000,000, was in the The Landmark Condos Scottsdale AZ in North Scottsdale.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
At the end of April, there were five pending sales. This is down one from March’s six. Four of the five pendings were in Phoenix and the final one was in Scottsdale.
Scottsdale Pending Sale
- The pending luxury condo sale in Scottsdale was a carryover from March. This 2,975 square foot unit with three bedrooms and three and one-half bathrooms and was located in thee Scottsdale Waterfront Residences community. The list price was $1,850,000.
Phoenix Pending Sales
- Downtown Phoenix’s Portland on the Park was home to one of the pending condos. This 1,646 square foot unit was a holdover from March and was priced at $1,031,500. It had two bedrooms and three baths.
- The Fairway Lodge at 8 Biltmore had a carryover pending sale. The condo had 2,329 square feet, three bedrooms, two and one-half bathrooms and had been listed for $1,150,000.
- Two Biltmore Estates had two of the pending sales at the end of April. The first unit was listed for $1,838,000 and had three bedrooms, three and one-half bathrooms and 3,330 square feet. The other unit was listed for $2,588,000 and had three bedrooms, four and one-half bathrooms and 4,877 square feet.
LUXURY CONDO SALES FOR APRIL 2015
There were four luxury condo sales in April, the second highest sales month of the year to-date.
- There was a sale in The Landmark. The unit had been listed for $1,640,000 and had three bedrooms, two and one-half bathrooms and 3,054 square feet. Its sales price was $1,484,500.
- The Residences at 2211 Camelback had a sale. This three bedroom, three bathroom condo with 3,000 square feet sold for $1,565,000. It had been listed for $1,695,000.
- The final two sales in April were in the Two Biltmore Estates community. Originally listed for $1,878,000, the first home had four bedrooms, four and one-half bathrooms and 3,580 square feet. It sold for asking price. The second condo sale was a three bedroom, three and one half bath unit with 4,817 square feet. It had been on the market for $2,275,000 and sold for $2,200,000.
Overall, the Scottsdale and Phoenix luxury condo market had another strong month. With all of the pending activity, sales for April should be excellent.
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Disclaimer: Days on market figures are cumulative days on market. Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 5/1/2015 and can change at any time. The analysis looks at resale luxury condos in Scottsdale and Phoenix over the past 12 months. Information deemed reliable, but not guaranteed. There may be new condo inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2015 Heather Tawes Nelson | Joyce Tawes
